Method and System for Collecting, Tracking and Reporting Consumer Data to Improve Marketing Practices for Merchants and Banks

Abstract

A method and system for improving marketing practices for merchants and banks, the method and system comprising advertising via a commercial offer solicited to a consumer, wherein upon noticing the commercial offer, the consumer is directed to a website for a facilitator; collecting data from the consumer at a website, wherein the data contains the consumer's personally identifiable information and purchasing preferences and needs; using the data to enable the facilitator to formulate a focused marketing plan based on the consumer's needs and preferences; and compensating the facilitator based on purchases made by the consumer resulting from said facilitator's focused marketing plan.

Description

1. RELATED APPLICATIONS [0001] This application claims priority to U.S. Provisional Application Ser. No. 60 / 739,459 filed Nov. 23, 2005, entitled “Method and System for Collecting, Tracking and Reporting Consumer Data to Improve Marketing Practices for Merchants and Banks”.BACKGROUND [0002] 1. Field of Invention [0003] The present invention relates to a method and system for collecting, tracking and reporting consumer data to improve marketing practices for merchants and banks. More particularly, the present invention entails a method and system for collecting data via a consumer card and from that data, tracking a consumer's purchasing history. The customer's purchasing history, which relays the customer's needs and preferences, may then be used to: compensate a marketing service provider on a “fee-for-results” basis; assess whether or not a particular marketing practice was effective; and / or assist in tailoring marketing activities for a merchant based on the collected data. [0004...

AI Technical Summary

Benefits of technology

[0017] In some embodiments, data may then be used to formulate a focused marketing plan, based on consumer's needs and preferences so that redundant, inefficient advertising by merchant is avoided. In some embodiments, facilitator collects data about the needs and preferences of the consumer and also has the permission of the consumer to commercially advertise by email to the consumer. As a result, the facilitator has enough information to recommend to the merchant the types of products (or services) most likely to attract the consumer to the store and to make purchases. Moreover, this data also indicates the most effective method of contacting, marketing and advertising to the consumer.

Problems solved by technology

Unfortunately, there are drawbacks with traditional advertising methods.

First, current methods of advertising impose high initial costs on merchants and second, with traditional techniques it is difficult for a merchant to determine the amount he or she should spend on advertising.

The foregoing decisions can be complicated.

This is also difficult to determine.

For instance, in evaluating the success of a marketing strategy, it is difficult to assess how spontaneous sales, by customers who were attracted to the merchant's goods by an advertisement for something other than that which they purchased, should be measured.

As such, whether or not an investment on advertising yields positive results is difficult to quantify.

For instance, though advertising by e-mail is inexpensive, unsolicited email is burdensome to networks and tends to irritate consumers.

However, one drawback is that evaluating a customer's purchasing history is not only difficult to generalize, but also to automate.

However, consumables and durables require diametric advertising techniques, so generalization about a marketing practice based on a consumer's purchasing history is difficult.

Neither Scroggie nor Peirce discloses targeting consumers based on their history of purchasing travel, hospitality, or services in general.

One draw back of this marketing practice is that even though customers consent to receive email ads, spam filters still may divert approximately ten percent of consensual, commercial e-mail.

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